Aramco’s iktva program added SAR 900B to GDP since launch: Official

Sulaiman Al-Rubaian, Saudi Aramco’s SVP of Procurement and Supply Chain Management addressing the Supply Chain and Logistics Conference

Saudi Aramco’s iktva program contributed a total of SAR 900 billion to Saudi Arabia’s gross domestic product (GDP) over the 10 years since its launch, said Senior Vice President of Procurement and Supply Chain Management Sulaiman Al-Rubaian.

Speaking at the Supply Chain and Logistics Conference, he said that the program helped create more than 200,000 direct and indirect jobs across local supply chains.

He noted that iktva had established 350 local manufacturing facilities, including facilities that produced 47 products manufactured for the first time in Saudi Arabia.

Al-Rubaian noted that Saudi Aramco launched the iktva program to develop local supply chains in the energy sector and raised local content in its procurement from 35% in 2015 to 67% by the end of 2024.